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UPDATE: ACCUSED murderer Gerard Baden-Clay will not spend Christmas with his family after a second failed bail attempt.

The former real estate agent's lawyers tried to argue there had been a material change of circumstances since his last bail application.

They argued a toxicology report showing "fatal levels" of an anti-depressant drug showed his wife Allison was not murdered but committed suicide.

Justice Peter Applegarth said, in Brisbane Supreme Court, there had not been a material change of circumstances.

He said the "suicide theory" meant she must have walked 14km from her home to where she died or she hitch-hiked with a stranger who had not come forward despite "enormous" media coverage of her disappearance in April.

"One can put it no higher than a possibility," he said.

Justice Applegarth noted there was much evidence which went against the "suicide theory".

He said the accused had scratches on his face consistent with scratches, Allison's blood was in her eight-week-old car and plant species found on hair were connected to her house.

"That evidence flies in the face of the suicide theory and undermines it," he said.

Defence claims Allison Baden-Clay may have overdosed

LAWYERS for accused murderer Gerard Baden-Clay's lawyers have argued he should be released because the case against him could prove suicide as much as murder.

Barrister Peter Davis, acting for the former real estate agent's lawyers, told Brisbane Supreme Court that a toxicology report showed his wife Allison had "fatal levels"of anti-depressant Zoloft in her system when she was found dead.

The mother of three went missing from their Brookfield home in April this year.

A canoeist found her body 10 days later at Kholo Creek, near Ipswich.

Baden-Clay has been in custody since he was arrested for murder in June.

His lawyers made a second bail application in on Friday afternoon.

Mr Davis said there was a "solid hypothesis" for Baden-Clay's innocence which was his wife committing suicide.

"That must be a powerful consideration," he said.

"There is a real possibility that she died of an overdose."

Justice Peter Applegarth questioned the "suicide theory".

"But other causes of death cannot be excluded because of decomposition, such as suffocation," he said.

Mr Davis said there was "no evidence of that".

Justice Applegarth said "that's not the point", noting there was a range of theories for possible cause of death.

Mr Davis said his client was unlikely to flee because his family lived here and he had no passport.

He said Crown submissions at the first bail hearing suggesting his client had $1 million debts was incorrect, arguing they were closer to $58,000.

Mr Davis said the revised figure showed there was not the "impending doom" financially as alleged in the first bail hearing.

Crown prosecutor Danny Boyle will make his submissions for keeping Baden-Clay in custody next.

A committal hearing has been set for three days in March, with 43 witnesses set to be called.

Baden-Clay denies the charges.

* Anyone seeking someone to talk to about suicide should phone Lifeline on 13 11 14.